SOHO China plunges most in 14 yrs after Blackstone walks away from buyout

SOHO China

13/09/2021 03:04

** Shares of SOHO China Ltd  0410.HK  plunge 40% to HK$2.10,
biggest daily percentage decline since listing October 2007
    ** Stock hit the lowest since Nov. 3, 2020, top decliner on
the Hong Kong bourse and the third most actively traded by
turnover in early trade
    ** Blackstone Group Inc  BX.N  has abandoned its $3 billion
bid to take full control of SOHO China, the office developer
said in a filing on Friday  urn:newsml:reuters.com:*:nL4N2QC2CY
    ** The U.S. private equity giant's investment vehicle in the
deal had decided not to make the offer, the filing said
    ** Stock is the biggest percentage decliner on the Hang Seng
Composite Index  .HSCI  and on Hang Seng Composite Index
tracking properties and construction stocks  .HSCIPC  as well
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Composite Index tracking properties and construction stocks
 .HSCIPC  both fall 1.6%
    ** The Hang Seng China Enterprises Index  .HSCE  drops 1.9%
and the benchmark index  .HSI  falls 1.8%
    ** As of last close, the stock had soared 51.5% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))